FBR holds awareness session on recent tax reforms

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ISLAMABAD: The Federal Board of Revenue held a session in Lahore for leading tax consultants, tax managers and businessmen in order to create awareness about recent tax reforms undertaken by the board to promote ease of doing business in the country.

Officials from the Punjab Information Technology Board (PITB), Punjab Employees Social Security Institution (PESSI), Punjab Revenue Authority (PRA), and Planning and Development Board (P&D) participated in the session.

The participants were informed about the facilities introduced by FBR for the medium and small-sized companies, including payment of income tax, sales tax and customs duty through Alternate Delivery Channel.

ADC includes payment through ATM, mobile banking and online banking.

Online payments of pension and social security have also been introduced by Employees Old-Age Benefits Institution (EOBI) and Punjab Employees Social Security Institution (PESSI), the FBR stated.

The participants were further briefed about the introduction of Virtual One Stop Shop (VOSS), which enables a company and its directors to get registered with FBR by getting NTN at the time of registration with the Securities and Exchange Commission of Pakistan (SECP).

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